Ghana making progress in utilizing $3bn Chinese cash – Foreign Minister

BEIJING Minister of Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey, has told the government of China that Ghana is making good progress with the utilization of the $3 billion China Development Bank (CDB) loan.

Ayorkor Botchwey briefed the Chinese government about how the loan facility was being utilized when she held bilateral talks with her Chinese counterpart, Wang Yi.

The talks were held on the sidelines of the FOCAC Coordinators’ meeting which took place recently in China.

She told the Chinese Foreign Minister, Wang Yi, that out of the $3 billion, $1 billion has been utilized to successfully complete the Western Corridor Gas Infrastructure Project and the Integrated National Security Communications Enhancement Project (ICT).

Ayorkor Botchwey further indicated that Ghana intended to use $1 billion of the facility for two major railway projects.

She mentioned that Ghana’s Minister for Finance will be working out the details with his Chinese counterpart.

According to her, the Ghanaian Finance Minister shall also seek his Chinese counterpart’s support for the two projects which are critical to the opening up of the untapped areas of Ghana’s economy.

She recounted that Ghana and China have signed two subsidiary agreements to construct about 11 fishing harbours and landing sites as well as the Accra Metropolitan Area Intelligence Traffic Management Projects.

Ghana and China’s bilateral relationship dates back to July 5, 1960.